The delegation will be accompanied by Foreign Minister Didier Reynders and representatives of 300 businesses operating in water and sewerage management, transport, port, logistics and health care.
Belgian Ambassador to Vietnam Bruno Angelet said this will be an opportunity for the two countries’ businesses to seek potential and reliable partners.
Prince Philippe is scheduled to meet high-ranking Vietnamese leaders, visit the Dinh Vu Industrial Zone and attend signing ceremonies of the two countries’ companies, organisations and universities. Around 40 contracts are expected to be signed between Vietnam and Belgium during the visit, said the Belgian diplomat.
The Belgian business delegation will hold four seminars on how to develop transport, logistics and wharves; water and wastewater treatment; food, agriculture technology and aquaculture; and health care services.
Ambassador Bruno Angelet said Belgium will announce a credit fund for Vietnam’s small and medium-sized enterprises (SME) to implement its commitment to assist SME and newly established enterprises.
Belgium and Vietnam established official political and economic ties in 1973 and two-way trade has doubled over the past decade.
Belgium exports goods worth around US$275 million to Vietnam each year and imports around US$848 million worth of goods from the Southeast Asian nation.
At present, Belgium exports mainly chemicals, medicine, machinery and equipment, steel and other metal to Vietnam while importing footwear, textiles, garments and vegetables.
The European country’s direct investment in Vietnam now stands at around US$108 million, mainly in dredging, health care, port management, biotechnology and satellite technology and waste water treatment.
Belgium has also pledged to increase its current ODA provision of US$25 million each year to Vietnam’s water resource management, education and capacity development.